Page 186 - ALEF EDUCATION PR REPORT - JULY 2024
P. 186
7/5/24, 4:30 PM Alpha Data plans to raise $200mln from IPO on Abu Dhabi bourse: Bloomberg
ADX lists $5bln bonds issued by Abu Dhabi Government. Image courtesy WAM.
IPO
Alpha Data plans to raise $200mln from IPO on Abu
Dhabi bourse: Bloomberg
The potential share sale is expected by year-end
Staff Writer, ZAWYA
July 5, 2024
Alpha Data, a UAE-based IT services company, plans to raise nearly $200 million from an initial public
offering (IPO) in Abu Dhabi, Bloomberg reported.
The company is working with EFG Hermes and Emirates NBD Capital on the potential share sale which
could happen by year-end, the report said.
The IPO size and timing are still preliminary, the news agency added.
Alpha Data offers ICT solutions, including artificial intelligence, mobility, security, Internet of Things, big
data and cloud computing.
Last month, the UAE stock markets attracted a new market capitalisation of nearly 21.3 billion UAE
dirhams ($5.8 billion), thanks to three new IPOs witnessed since the beginning of this year.
Alef Education Holding topped with a market capitalisation of AED 9.45 billion as the first IPO on the Abu
Dhabi Securities Exchange (ADX) this year.
https://www.zawya.com/en/markets/equities/alpha-data-plans-to-raise-200m-from-ipo-on-abu-dhabi-bourse-bloomberg-gjx9s2a8 1/2
